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<h1>Input Tax Credit clarification: ITC for deemed exports and utilisation rules for electronic ledgers clarified under GST.</h1> The Circular clarifies that portal-enabled ITC for claiming refunds on supplies regarded as deemed exports is not ITC under Chapter V and must be excluded from Net ITC for refund computations; the proviso expanding credit availability where an employer is legally obliged to provide goods or services applies to the entire blocked-credits clause; 'leasing' in the blocked list is limited to motor vehicles, vessels and aircraft; employer contractual perquisites are outside GST as services by employee to employer; electronic credit ledger may discharge only output tax (excluding reverse charge) while electronic cash ledger may meet tax, interest, penalty, fees and other liabilities.
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